BRICS members discuss US' reciprocal tariffs, express 'serious concern' about trade tensions

ISTANBUL

China said Saturday that BRICS members discussed US reciprocal tariffs and expressed "serious concern" about trade tensions.

Beijing said Washington's tariffs have "severely undermined the international trade system, disrupted global industrial and supply chains, and caused prolonged impact on the world economy," during the second meeting of the BRICS Contact Group on Economic and Trade Issues earlier this week, according to a statement by the Commerce Ministry.

China urged member countries to "steadfastly adhere to the correct direction of globalization, jointly safeguard the multilateral trading system based on rules, and maintain global economic stability."

Members also expressed "grave concern" about the "severe impact" of the tariffs on the multilateral trading system, said the statement, adding that several members said the penalties "seriously violate" World Trade Organization (WTO) rules and pointed out the possible negative effect they could have on the "global economic growth" and "the interests of developing countries."

Separately, Chinese Minister of Commerce Wang Wentao held a video call Friday with WTO Director-General Ngozi Okonjo-Iweala to discuss US reciprocal tariffs and the organization’s role.

China has filed lawsuits with the WTO because of the tariffs.

BRICS is made up of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates.